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In response to widespread speculation surrounding the Economic and Financial Crimes Commission’s (EFCC) ongoing investigations into alleged financial misconduct within the Ministry of Humanitarian Affairs, Disaster Management, and Social Development, the EFCC has issued a statement to set the record straight.
The EFCC has confirmed that it has initiated investigations into the alleged misappropriation of funds within the ministry, resulting in the recovery of N32.7 billion and $445,000 thus far. These investigations have uncovered various fraudulent activities related to Covid-19 funds, the World Bank loan, and Abacha recovered loot, with several implicated officials currently under scrutiny.
It’s important to note that the EFCC’s focus is on uncovering systemic fraud rather than targeting individuals. Banks implicated in these fraudulent activities are also under investigation, with managing directors cooperating with EFCC investigators.
Regarding efforts to combat Naira abuse and dollarization of the economy, the EFCC acknowledges the support of the public in reporting instances of currency abuse. While old videos are being circulated, the EFCC clarifies that its Special Task Force against Naira Abuse and Dollarization of the economy commenced operations on February 7, 2024. Moving forward, new instances of currency abuse will be thoroughly investigated and prosecuted.
The EFCC also reveals ongoing investigations into celebrities involved in Naira abuse, emphasizing its commitment to impartial enforcement of the law.
Dele Oyewale, Head of Media & Publicity, issued this statement on April 14, 2024, urging the public to remain vigilant and cooperate with law enforcement efforts against financial crimes.
